ASEAN-India: Trade in Goods Agreement

P.K. Dash writes: In 1991, India announced its ‘Look East’ Policy with a view to seeking greater engagement with East Asian countries building upon its historical links with these countries. India became a sectoral dialogue partner of the ASEAN in 1992. India became a Full Dialogue Partner of ASEAN at the 5th ASEAN Summit in Bangkok in 1995 and a member of the ASEAN Regional Forum (ARF) in 1996. With a view to providing an institutional framework for operationalising economic cooperation, India and ASEAN signed a Framework Agreement or Comprehensive Economic Cooperation Agreement (CECA) on October 8, 2003. Negotiations towards a Trade in Goods Agreement commenced in March 2004 and ended in May 2009. In the meantime, ASEAN have signed FTAs with China (2004), South Korea (2006), Japan (2007),Australia & New Zealand (2009).

India-ASEAN Trade in Goods Agreement

On 13^th August 2009, India and the ASEAN (Association of South East Asian Nations) comprising Brunei Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia,Myanmar, Philippines, Singapore, Thailand and Vietnam signed the Trade in Goods Agreement under the broader framework of Comprehensive Economic Cooperation Agreement (CECA) between India and the ASEAN. The Agreement has come into force on 1st January 2010 in respect of Malaysia, Singapore and Thailand. In the case of other countries, it will come into force after they complete their internal requirements.

Along with the Trade in Goods Agreement, the following related Agreements have also been signed: (a) Protocol to Amend the Framework Agreement on Comprehensive Economic Cooperation between India and the Association of Southeast Asian Nations,

(b) Agreement on Dispute Settlement Mechanism under the Framework Agreement on Comprehensive Economic Cooperation between India and the Association of Southeast Asian Nations and (c) Understanding on Article 4 of the Trade in Goods Agreement under the Framework Agreement on Comprehensive Economic Cooperation between India and the Association of Southeast Asian Nations.

Read this entire article at   nvonews.com